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(Reuters) Italian energy services group Saipem said on Wednesday it would launch a planned 2 billion-euro ($2.10 billion) rights issue from June 27 as it strives to bolster its finances and re-focus its business after a surprise profit warning in January. The move is part of a plan to get the group back into the... Continue Reading →
(Reuters) - French lender Credit Agricole (CAGR.PA) on Wednesday set out targets to cut its exposure to the financing of emissions from the oil and gas sector and boost renewable energy lending. The move comes as the sector faces growing regulatory and investor pressure to align lending with the world's climate goal, aiming to cap global warming... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, in relation to the video published in the media about the reserve for profit distribution, clarifies that the information that there is a reserve of R$ 200 billion for distribution of profits by the company is not true. The amount of R$ 208.6 billion cited in Petrobras' Individual Financial Statements... Continue Reading →
(Reuters) - Brazilian Economy Minister Paulo Guedes said on Monday that privatizing state-run oil firm Petrobras (PETR4.SA) via migration to the "Novo Mercado" segment of the Brazilian stock exchange would increase its market cap from 450 billion reais to 750 billion reais ($145 billion). The Novo Mercado is a segment of the B3 exchange with stricter governance... Continue Reading →
(Reuters) - Brazilian Economy Minister Paulo Guedes is firmly against the idea of tax increases on the oil and gas industry, four ministry sources told Reuters, following days of government discussions about how to address political blowback over high fuel prices. The Economy Ministry officials, who requested anonymity to comment on confidential discussions, said the... Continue Reading →
(Reuters) - Brazilian energy company Eneva SA (ENEV3.SA) will price on June 24 a follow-on share offering through which it expects to raise up to 4.09 billion reais ($799.22 million) to fund the acquisitions of Celsepar and Cebarra, it said on Thursday. Eneva will issue 300 million new shares, and the total estimated amount it expects to... Continue Reading →
(Reuters) - Argentina's central bank raised its benchmark interest rate by the most in three years on Thursday, hot on the heels of a major hike by the U.S. Federal Reserve and as the South American country firefights sky-high inflation running at over 60%. The central bank upped the benchmark Leliq rate by 300 basis... Continue Reading →
(Offshore Energy) War in Ukraine is transforming the outlook for the supply, demand, and price of hydrocarbons and the pace and cost of the energy transition. While the precise timing and implementation of future bans on Russian commodity imports are difficult to predict, a rewriting of energy trade flows is now underway, energy intelligence group... Continue Reading →
(Reuters) - Brazil's central bank on Wednesday raised interest rates by 50 basis points, in line with prevailing market expectations, and signaled another increase coming in the world's most aggressive rate-hiking cycle. The bank's rate-setting committee, known as Copom, raised its benchmark Selic interest rate to 13.25%, the highest level since the beginning of 2017... Continue Reading →
Subsea 7 has updated its Adjusted EBITDA guidance for the full year 2022 following reduced progress on two offshore wind projects and vessel reshuffle at its subsidiary Seaway 7. Seaway 7 announced provisions against the results of project execution of offshore windfarm installations due to increased costs relating to weather delays and mechanical breakdowns. This,... Continue Reading →
Brazil Energy Insight 